Safeway will soon be initiating a process to sell PDC. Follow the money, Stock Market Today: Wall Street Rises to Cap a Winning April, Powerful New Obesity Drug Poised to Upend Weight Loss Care, Analyst Breaks Down Thursday's Market as Stocks Climb Amid Strong Tech Earnings, Boeing to increase 737 Max production despite ongoing production issues. Mr. Turners strategic and operational leadership skills and expertise in online worldwide sales, global operations, supply chain, merchandising, branding, marketing, information technology and public relations provide our Board with valuable insight relevant to our business. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur. (Don't see an email in your inbox? There are various important factors that could cause actual results to differ materially from those in any such forward-looking statements, many of which are beyond Safeway's control. WebBurd was President of Safeway from October 26, 1992, until May 14, 2013, and CEO from April 30, 1993, until May 14, 2013. DELTA NEWS ON THE GO. We are excited about continuing this momentum as a combined organization. We are excited about continuing this momentum as a combined organization. Investors - Governance - Board of Directors - Albertsons The merger agreement was unanimously approved by the Board of Directors of Safeway. Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. WebBoard of Directors. The majority pay is between $68,369 to $87,906 per year. Schulte Roth & Zabel LLP served as lead outside legal counsel to Albertsons, Cerberus and the investor group, and Dechert LLP, Schulte Roth & Zabel LLP and Baker Botts LLP served as outside legal counsel on antitrust matters. A successful competing bidder who makes a superior proposal during the go-shop period would bear a $150 million termination fee. During the extended time, Safeway would not be permitted to pay a dividend to its shareholders but shareholders would receive additional cash consideration equal to 6% per annum on the $32.50 per share cash price for the number of days that pass during the three month extension until closing. This announcement will be discussed on a conference call with analysts and investors, which is scheduled at 5:30 p.m. Eastern Time today. Keep reading with a digital access subscription. Delta Board of Directors Names Vasant Prabhu as Newest Member. WebSafeway has 1 board of directors, including George Morrow. This press release contains certain forward-looking statements about the future performance of Safeway, including about the combined Safeway/Albertsons business (the "Combined Entity"). On a combined basis, the value of the CVRs is estimated in the range of $3.45 to $3.85 per share. Robert Edwards is the former President and Chief Executive Officer of AB Acquisition LLC, a North American food and drug retail company, a position he held from Albertsons acquisition of Safeway Inc. in January 2015 to April 2015. Robert Edwards and Albertsons announced today a definitive agreement under which AB Acquisition LLC ("AB Acquisition") will acquire all outstanding shares of Safeway (the "Merger"). Mr. Dreiling has served as a director and Executive Chairman of Dollar Tree, Inc., a leading operator of discount variety stores, since March 2022 and was appointed Chief Executive Officer in January 2023. Learn More Robert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. Safeway owns 49% of Casa Ley, the fifth largest food and general merchandise retailer in Mexico based on sales. WebMember of the Board of Directors, Caseys General Stores, Inc. since 2014 (also member of the Compensation (Chair) Committee; Member of the Board of Directors, International It also brings together two great organizations with talented management teams. Under certain circumstances, if the Merger fails to close, AB Acquisition would be required to pay Safeway $400 million. The FNIH encourages the public to take action during OctoberNational Breast Cancer Awareness Monthand help raise awareness and donate to this unique Safeway and its directors, executive officers and certain other members of management and employees of Safeway may be deemed "participants" in the solicitation of proxies from shareholders of Safeway in favor of the proposed merger. WebBoard of Directors 1 Safeway Management Team 20 Team Members Safeway has 20 executives. general merchandise retailer Casa Ley, S.A. de C.V. ("Casa Ley"). Delta Board of Directors Names Vasant Prabhu as Newest Member. The Merger will create a diversified network that includes over 2,400 stores, 27 distribution facilities and 20 manufacturing plants with over 250,000 dedicated and loyal employees. Combining these strong management teams will strengthen the ability of Safeway and Albertsons to deliver on a shared commitment to offering customers higher quality products at lower prices, which will undoubtedly yield positive results for all stakeholders in the business.". You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Mr. Prabhu is the Vice Chair, Chief Financial Officer of Visa Inc. BrandSafway supports maintenance and refurbishment projects as well as new construction. Delta Air Lines' (NYSE:DAL) board of directors today announced Vasant Prabhu as its newest member. More news: News in other languages on SAFEWAY INC. 2015: Mr. Turner has served as our Vice Chairman since February 2020, after serving as Vice Chairman and Senior Advisor to the Chief Executive Officer from August 2017 to February 2020. The Merger will enable Albertsons and Safeway to implement operational best practices in order to offer customers an enhanced shopping experience and more competitive prices, while enabling the combined company to pursue industry-leading customer service in an increasingly competitive and dynamic marketplace. At Albertsons Companies, Inc., we promise to treat your data with respect and will not share your information with any third party. He most recently served as oil field services supplier Weatherfords CFO. Since 2000, he has served as a director and board president of Los Angeles Public Counsel, a pro bono organization. Through a network of 340 strategic locations across 30 countries and more than 38,000 employees, BrandSafway delivers a full range of forming, shoring, scaffolding, work access and industrial service solutions. to get more GuideStar Nonprofit Profile data today! Mr. Fennebresque has served on the board of Ally Financial Inc., a financial services company, since May 2009, and BlueLinx Holdings Inc., a distributor of building products, since May 2013, including as Chairperson of BlueLinx since May 2016. Our stores provide the opportunity to mobilize funding and create awareness in our neighborhoods through our employees' passion, partnerships with our vendors, and generous contributions by our customers. BrandSafway board of directors appoints new leadership, Karl Fessenden joins as CEO and Christian Garcia as EVP and CFO. Larree Renda | Board Member | Ross Stores, Inc. The company is well positioned for continued success and growth.. Overnight on Wall Street is morning in Europe. Ms. Allen is a Certified Public Accountant (Retired), and her extensive accounting and audit experience broadens the scope of our Boards oversight of our financial performance and reporting. Board of Directors Renda spent more Golf's Greatest Holes: Golfing legend Paul McGinley takes television presenter Chris Hollins on a tour of the best golf courses in Ireland and Northern Ireland. Ms. West has served on our Board since 2020 and currently serves as a Senior Advisor for McKinsey & Company. Board of Directors Robert Edwards - Member of the Board of Directors The Blackhawk distribution is intended to maximize the value of Safeway's long-term investment in Blackhawk, which the Board determined to be in the best interests of Safeway, Blackhawk, and the shareholders of both companies. Do Not Sell or Share My Personal Information. No store closures are expected as a result of this transaction. P.O. This will direct queries through the Office of the Senior Vice President, General Counsel, and Corporate Secretary. The diversified network of retail assets, associated distribution centers and manufacturing assets will allow for a broader assortment of products, a more efficient distribution and supply chain, enhanced fresh and perishable offerings, and expanded private label alternatives for customers. Safeway Location 1555 Dublin Canyon Rd, Pleasanton, California, 94588, United States Description Industry Grocery Retail Retail Discover more about Safeway Sign in. After submitting your request, you will receive an activation email to the requested email address. Kennesaw, GA 30152, Spider Powered Suspended Access Solutions. Between 1985 and 2002, Mr. Turner held several positions of increasing responsibility with Wal-Mart, including Executive Vice President and Global Chief Information Officer from 2001 to 2002. and expansion plans with unmatched service from expert local labor and management. The final ratio and the value of the Blackhawk shares will be determined at the time of the distribution and will depend on the market value of Blackhawk at that time and the number of diluted Safeway shares. Albertsons Companies Foundation supports causes that impact our customers' lives. WebThis Proxy Statement is furnished to our stockholders on behalf of the Board of Directors of Safeway Inc., a Delaware corporation (Safeway or the Company), in connection with This announcement will be discussed on a conference call with analysts and investors, which is scheduled at 5:30 p.m. Eastern Time today. Goldman, Sachs & Co. served as financial advisor to Safeway in connection with the Company's strategic review and the transactions. Grocery industry veteran Larree M. Renda has been elected to the board of directors of discount apparel retailer Ross Stores Inc., effective immediately. Its intentional. Edwards, 57, will also join the company's Board of Directors. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the shareholders of Safeway in connection with the proposed acquisition will be set forth in the proxy statement and the other relevant documents to be filed with the SEC. He has been Chief Financial officer since 2015 and was Click here to resend it.). If the deal is not closed within 12 months, Albertsons can extend the merger agreement by an additional three months under certain circumstances. Accordingly, actual results may differ materially and adversely from those expressed in any forward-looking statements. He has been Chief Financial Officer since 2015 and was elected Vice Chair in 2019. Established in 1992, Cerberus Capital Management, L.P. is one of the world's leading private investment firms. Safeway Transamerica was acquired by Aegon in 1999. 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On a national basis, we fund only organizations working in the area of Hunger through our Nourishing Neighbors Campaign. He will retire from Visa on Sept. 30. Steve Thomas works as a General Manager and Vice President of Information Technology at Safeway Philtech, which is a Custom Software & IT Services company with an estimated 115 employees. By visiting this website, certain cookies have already been set, which you may delete and block. ATLANTA, April 28, 2023 - Delta Air Lines' (NYSE:DAL) board of directors today announced Vasant Prabhu as its newest member. Safeway and Albertsons Announce Definitive Merger Safeway A replay of the call will be archived at www.Safeway.com. They are part of Information Technology Department and Together, we will be able to respond to local needs more quickly and deliver outstanding products at the lowest possible price, more efficiently than ever before. These factors include: failure to obtain shareholder approval of the proposed merger; failure to obtain, delays in obtaining or adverse conditions contained in any required regulatory or other approvals; failure to consummate or delay in consummating the transaction for other reasons; changes in laws or regulations; and changes in general economic conditions. Robert Edwards and his team have done an outstanding job in positioning Safeway's core business for success, by investing in its stores and creating innovative strategic marketing programs that contribute to shareholder value. KENNESAW, Ga., Sept. 30, 2020 The board of directors of BrandSafway, a global leader in access and industrial services, has announced that Karl Fessenden has been named chief executive officer (CEO) and Christian Garcia will be the new executive vice president (EVP) and chief financial officer (CFO), effective mid-October. It also brings together two great organizations with talented management teams. For a 15-day period following the termination of the go-shop period, Safeway will be permitted to continue discussions and enter into or recommend a transaction with any person that submitted a qualifying proposal during the 21-day period. On a present value basis over 15 years, this tax savings, resulting from future tax deductions, is valued at approximately $4.50 per Blackhawk share and $0.70 per Safeway share. The people, governance practices, and partners that make the organization tick. Podcast: How long can the private brand streak last? As a result of the Merger, plus other actions to be taken by the Safeway Board of Directors as described below, including the separate sales of certain other primarily non-core assets, and the distribution of Blackhawk shares, Safeway shareholders are expected to receive total value estimated at $40 per share. BOARD OF DIRECTORS Officers President & Chairman Scott Drew President Smart & Final Commerce, CA Vice President Paul Gianetto SVP Sales & One SE Convenience Boulevard. A verification email has been sent to you. Prabhu is the Vice Chair, Chief Financial Officer of Visa Inc. It is also anticipated that there will be a step up in Blackhawk's tax basis in assets which could generate approximately $30 million in cash tax savings per annum for Blackhawk. Visit our updated. As a result of the Merger, plus other actions to be taken by the Safeway Board of Directors as described below, including the separate sales of certain other primarily non-core assets, and the distribution of Blackhawk shares, Safeway shareholders are expected to receive total value estimated at $40 per share. about GuideStar Pro. Prior to joining Cerberus, Mr. Wille worked in the leveraged finance group at Deutsche Bank Securities Inc. from 2004 to 2006. Under the merger agreement, Safeway shareholders will receive $32.50 per share in cash. Contact the Board of Directors. Robert Edwards and his team have done an outstanding job in positioning Safeway's core business for success, by investing in its stores and creating innovative strategic marketing programs that contribute to shareholder value. ", "This Merger is one of several actions we have taken in recent months as a result of our strategic business review. PDC's portfolio consists of 25 properties with an estimated three million square feet, and is comprised of 11 operating assets, nine projects under construction, and five projects in the due diligence and entitlement phases. Safeway Director Salaries | Glassdoor Prior to Weatherford, Garcia served as automotive supplier Visteons CFO and as Halliburtons acting CFO. Together, we will be able to respond to local needs more quickly and deliver outstanding products at the lowest possible price, more efficiently than ever before." ", "This Merger is one of several actions we have taken in recent months as a result of our strategic business review. I am excited to join BrandSafway, a market leader with an outstanding team, a strong commitment to safety, and the broadest portfolio of services and products in the industry, said Fessenden. Prior to that, Mr. Donald served as our President and Chief Executive Officer from September 2018 to April 2019 and before then as our President and Chief Operating Officer from March 2018 to September 2018. Highlight your management teams expertise. Schulte Roth & Zabel LLP served as lead outside legal counsel to Albertsons, Cerberus and the investor group, and Dechert LLP, Schulte Roth & Zabel LLP and Baker Botts LLP served as outside legal counsel on antitrust matters. PDC's portfolio consists of 25 properties with an estimated three million square feet, and is comprised of 11 operating assets, nine projects under construction, and five projects in the due diligence and entitlement phases. Her leadership and corporate governance experience with large public companies is valuable to our Boards governance strategic planning, and risk management oversight. Plus expansion candidates and more, Tucson restaurant lands No. As one of the largest grocery retailers in North America, we find that supporting hunger relief programs is a natural fit for us. The Merger will create a diversified network that includes over 2,400 stores, 27 distribution facilities and 20 manufacturing plants with over 250,000 dedicated and loyal employees. Fessenden brings 25 years of leadership experience in complex service-based businesses, serving as MB Aerospaces president and chief operating officer, CHC Helicopters CEO, and head of GEs $8 billion Power Generation Services unit. The merger agreement was unanimously approved by the Board of Directors of Safeway. Caseys - Governance Chief Executive Officer & Director: 59: 2021: Sharon McCollam: President & Chief Financial Officer: 60: 2021: Anuj Dhanda: Chief Information Officer & Executive VP: From 2012 to 2014, Ms. West served as Executive Vice President & Chief Category and Marketing Officer of Mondelez International, Inc., the snack foods division spun off from Kraft Foods, Inc. in 2012. It also brings together two great organizations with talented management teams. 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Mr. Wille has served as a member of our Board since 2020. This filing does not constitute a solicitation of any vote or approval. Prior to joining ESH, Mr. Donald served as President, Chief Executive Officer and Director of Starbucks Corporation, a multinational chain of coffeehouses and roastery reserves, President and Chief Executive Officer of regional food and drug retailer Haggen Food & Pharmacy, Chairman, President and Chief Executive Officer of regional food and drug retailer Pathmark Stores, Inc., and served in a variety of other senior and executive roles at Wal-Mart Stores, Inc., Safeway Inc. and Albertsons, Inc. Mr. Donald began his grocery and retail career in 1971 with Publix Super Markets, Inc. Mr. Donald has also served on the board of Nordstrom, Inc., a leading fashion retailer, since 2020. The Merger will create a diversified network that includes over 2,400 stores, 27 distribution facilities and 20 manufacturing plants with over 250,000 dedicated and loyal employees.